Wet chartering Associate Professor Dionysios

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Wet chartering Associate Professor Dionysios Polemis Worldscale The Worldscale index is the scale for measuring tanker vessel rates. Tanker Freight Scales were created in WWII by the UK USA to group tanker voyages without the need to

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Wet chartering Associate Professor Dionysios Polemis<br>
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Worldscale The Worldscale index is the scale for measuring tanker vessel rates.
Tanker Freight Scales were created in WWII by the UK & USA to group tanker voyages without the need to calculate voyage freight in USD/ton or GBP/ton.
Before the creation of worldscale the process was the same as that of dry bulk cargo.
The index in its current form appeared in January 1989 under its full name:
New Worldwide Tanker Nominal Freight Scale
The word nominal shows the non-binding use of the indicator.
The worldscale is based on a book of tables “Schedule” available only on a subscription basis, usually every 1/1 year from the Worldscale Association.<br>
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Worldscale association It is consisted by two (2) non-profit organizations, one located in London and the other in New York.
The London organization has a management committee made up of the representatives of the 5 largest London tanker brokerage houses.
The New York organization has a board of directors consisting of representatives of the 6 largest New York tanker brokerage houses
The NY organization covers the Western Hemisphere and serves American subscribers (North – Central – South America, Caribbean, Hawaii and Greenland)
The London organization covers the rest of the planet<br>